California · Financial Code
FIN §14551.5: The supervisory committee shall be responsible for reviewing the credit union’s policies and control procedures to safeguard against fraud and self-dealing, and the supervisory committee shall exercis
What this law says, in plain English
A credit union's supervisory committee must review policies and procedures to prevent fraud and self-dealing.
Read the full statutory text
The supervisory committee shall be responsible for reviewing the credit union’s policies and control procedures to safeguard against fraud and self-dealing, and the supervisory committee shall exercise whatever efforts are necessary pursuant to Sections 14551 and 14553 to meet those responsibilities.
Verify at the official source: California legislative text
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